OPEN-SOURCE SCRIPT
Candle Opens by HAZED
🎯 Candle Opens by HAZED - Multi-Timeframe Open Levels Indicator
📊 Overview
This powerful indicator displays multiple timeframe opening prices on your chart, providing crucial reference levels that institutional traders and algorithms frequently monitor. Track up to 7 different timeframe opens simultaneously, from 1-hour to yearly, with advanced visualization features including dynamic coloring, heatmap analysis, and real-time status tracking.
✨ Key Features
📈 Multi-Timeframe Support:
- 1H, 4H, Daily, Weekly, Monthly, Quarterly, and Yearly opens
- Each timeframe can be individually enabled/disabled
- Automatic visibility adjustment based on chart timeframe
🎨 Dynamic Visual System:
- Smart Color Coding: Lines automatically change color based on price position (green above, red below)
- Customizable Styling: Adjust line thickness, transparency, and colors
- Intelligent Line Positioning: Choose between equal-length or staggered lines for better visibility
- Enhanced Labels: Display timeframe only or include price with colored background
🌈 Advanced Heatmap:
- Background coloring shows overall market sentiment across all timeframes
- Gradient or solid color modes
- Instantly see when multiple timeframes align bullish or bearish
📊 Status Table Dashboard:
- Real-time overview of all active opens
- Shows current price position relative to each open
- Simplified view when all timeframes align
- Customizable position and font style
⚙️ Professional Tools:
- Alert system for new open levels
- Extended hours session support
- Price discovery mode for EOD/intraday discrepancies
- Left/right line extensions for enhanced visibility
💡 Trading Applications
Support & Resistance:
Opening prices act as natural support/resistance levels. Price often reacts at these levels, providing entry/exit opportunities.
Trend Confirmation:
When price is above multiple opens (especially higher timeframes), it confirms bullish momentum. The opposite indicates bearish pressure.
Mean Reversion:
Price tends to revert to significant opens, particularly daily and weekly levels. Use these as targets for counter-trend trades.
Breakout Trading:
Monitor when price breaks above/below clustered opens for potential continuation moves.
Risk Management:
Use opens as logical stop-loss levels or position sizing references based on distance from key opens.
🔧 Indicator Settings
Timeframes Section:
- Toggle each timeframe on/off
- Customize individual colors
Visual Style Section:
- Dynamic Colors: Auto-color based on price position
- Line Thickness: 1-4 pixels
- Transparency: 0-80%
- Extension Length: How far lines extend right
- Label Style: Plain or enhanced with price
Heatmap Section:
- Enable/disable background coloring
- Adjust transparency
- Choose gradient or solid zones
Status Table Section:
- Position on chart
- Font selection
Advanced Section:
- Enable alerts for new opens
- Price discovery mode
- Extended hours inclusion
]📈 Best Practices
1. Timeframe Selection:
- For intraday: Focus on 1H, 4H, and Daily
- For swing trading: Daily, Weekly, Monthly
- For position trading: Monthly, Quarterly, Yearly
2. Color Coding:
- Enable dynamic colors for instant sentiment reading
- Use heatmap for overall market bias
3. Confluence Zones:
- Pay special attention when multiple opens cluster
- These zones often produce stronger reactions
4. Alignment Signals:
- When all timeframes show same color = strong trend
- Mixed colors = potential consolidation or reversal zone
🎯 Pro Tips
- Volume Confirmation: Combine with volume indicators to confirm reactions at open levels
- Multiple Instruments: Compare opens across correlated assets for divergences
- News Events: Opens often act as magnets after major news releases
- Options Trading: Weekly and monthly opens align with options expiry levels
- Algorithmic Levels: Many algorithms use these opens for entries/exits
🔄 Updates in Version 8.3
- Added 1H and 4H timeframe support
- Enhanced dynamic color system
- Implemented heatmap visualization
- Added real-time status table
- Optimized performance for smoother operation
- Improved label styling options
- Better yearly timeframe detection
⚡ Performance Optimizations
This indicator uses advanced Pine Script v6 features for optimal performance:
- Efficient object reuse instead of recreation
- Smart calculation loops
- Minimal repainting
- Optimized for real-time updates
📝 Notes
- Works on all markets (stocks, forex, crypto, futures)
- Best on timeframes lower than the opens you're tracking
- Lines automatically hide when their timeframe is lower than chart timeframe
- Past opens are not displayed (indicator shows current opens only)
🙏 Credits & Support
Created by HAZED | Version 8.3
Optimized for TradingView Pine Script v6
For questions, suggestions, or bug reports, please comment below.
If you find this indicator useful, please consider leaving a like and a follow!
Remember: No indicator is perfect. Always use proper risk management and combine multiple confirmation signals in your trading decisions.
📊 Overview
This powerful indicator displays multiple timeframe opening prices on your chart, providing crucial reference levels that institutional traders and algorithms frequently monitor. Track up to 7 different timeframe opens simultaneously, from 1-hour to yearly, with advanced visualization features including dynamic coloring, heatmap analysis, and real-time status tracking.
✨ Key Features
📈 Multi-Timeframe Support:
- 1H, 4H, Daily, Weekly, Monthly, Quarterly, and Yearly opens
- Each timeframe can be individually enabled/disabled
- Automatic visibility adjustment based on chart timeframe
🎨 Dynamic Visual System:
- Smart Color Coding: Lines automatically change color based on price position (green above, red below)
- Customizable Styling: Adjust line thickness, transparency, and colors
- Intelligent Line Positioning: Choose between equal-length or staggered lines for better visibility
- Enhanced Labels: Display timeframe only or include price with colored background
🌈 Advanced Heatmap:
- Background coloring shows overall market sentiment across all timeframes
- Gradient or solid color modes
- Instantly see when multiple timeframes align bullish or bearish
📊 Status Table Dashboard:
- Real-time overview of all active opens
- Shows current price position relative to each open
- Simplified view when all timeframes align
- Customizable position and font style
⚙️ Professional Tools:
- Alert system for new open levels
- Extended hours session support
- Price discovery mode for EOD/intraday discrepancies
- Left/right line extensions for enhanced visibility
💡 Trading Applications
Support & Resistance:
Opening prices act as natural support/resistance levels. Price often reacts at these levels, providing entry/exit opportunities.
Trend Confirmation:
When price is above multiple opens (especially higher timeframes), it confirms bullish momentum. The opposite indicates bearish pressure.
Mean Reversion:
Price tends to revert to significant opens, particularly daily and weekly levels. Use these as targets for counter-trend trades.
Breakout Trading:
Monitor when price breaks above/below clustered opens for potential continuation moves.
Risk Management:
Use opens as logical stop-loss levels or position sizing references based on distance from key opens.
🔧 Indicator Settings
Timeframes Section:
- Toggle each timeframe on/off
- Customize individual colors
Visual Style Section:
- Dynamic Colors: Auto-color based on price position
- Line Thickness: 1-4 pixels
- Transparency: 0-80%
- Extension Length: How far lines extend right
- Label Style: Plain or enhanced with price
Heatmap Section:
- Enable/disable background coloring
- Adjust transparency
- Choose gradient or solid zones
Status Table Section:
- Position on chart
- Font selection
Advanced Section:
- Enable alerts for new opens
- Price discovery mode
- Extended hours inclusion
]📈 Best Practices
1. Timeframe Selection:
- For intraday: Focus on 1H, 4H, and Daily
- For swing trading: Daily, Weekly, Monthly
- For position trading: Monthly, Quarterly, Yearly
2. Color Coding:
- Enable dynamic colors for instant sentiment reading
- Use heatmap for overall market bias
3. Confluence Zones:
- Pay special attention when multiple opens cluster
- These zones often produce stronger reactions
4. Alignment Signals:
- When all timeframes show same color = strong trend
- Mixed colors = potential consolidation or reversal zone
🎯 Pro Tips
- Volume Confirmation: Combine with volume indicators to confirm reactions at open levels
- Multiple Instruments: Compare opens across correlated assets for divergences
- News Events: Opens often act as magnets after major news releases
- Options Trading: Weekly and monthly opens align with options expiry levels
- Algorithmic Levels: Many algorithms use these opens for entries/exits
🔄 Updates in Version 8.3
- Added 1H and 4H timeframe support
- Enhanced dynamic color system
- Implemented heatmap visualization
- Added real-time status table
- Optimized performance for smoother operation
- Improved label styling options
- Better yearly timeframe detection
⚡ Performance Optimizations
This indicator uses advanced Pine Script v6 features for optimal performance:
- Efficient object reuse instead of recreation
- Smart calculation loops
- Minimal repainting
- Optimized for real-time updates
📝 Notes
- Works on all markets (stocks, forex, crypto, futures)
- Best on timeframes lower than the opens you're tracking
- Lines automatically hide when their timeframe is lower than chart timeframe
- Past opens are not displayed (indicator shows current opens only)
🙏 Credits & Support
Created by HAZED | Version 8.3
Optimized for TradingView Pine Script v6
For questions, suggestions, or bug reports, please comment below.
If you find this indicator useful, please consider leaving a like and a follow!
Remember: No indicator is perfect. Always use proper risk management and combine multiple confirmation signals in your trading decisions.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.